3. More on the IPO process Aa Aa E The IPO process involves several entities, such as the issuing company, institutiona nvestors, brokers awyers regulators, retail investors, and an intermediary company. Consider the following IPO deal: On August 10, 2012, Manchester United PLC (MANU), a professional soccer team in the English Premier League, went public with the sale of 16,666,667 shares of Class A ordinary common shares for $14 per share. The sale, which raised $233,333,338, was led by the Jeffries Group, Inc. and conducted with assistance from Credit Suisse Group AG and JP Morgan. A variety of other banks across the world participated in the sale by offering shares to their Customers Beginning on August 9, 2012, and running for two weeks, roadshows were conducted in the United States by one management team and across Europe and Asia by a second team of MANU executives. What was the purpose of the roadshows conducted by MANU's management and its investment bankers? O To pre-book sales of shares with favorite investors before the issue is made available to the general public. O To identify potential investor interest given the offering price range described in the registration statement and build a book of interested investors. The underwriter in the IPO process has several responsibilities True or False: The underwriter is likely to promote the shares by distributing analyst reports on the stock to its associate brokerage house. O True O False